ADACON AS: årsregnskap 2003 vs 2002
Shrank 11% on revenue, weaker earnings, fresh owner capital
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ADACON AS. Revenue 1.67m NOK → 1.49m NOK (-10.8%). Net result +406.6k NOK → +316.1k NOK. Equity 178.9k NOK → 151.0k NOK.
On the constructive side: current ratio back above 1×; owners injected capital. Pressures included: revenue fell; operating result weakened; net result weakened.
Net tougher year on the published lines.
At a glance
Scorecard
What improved
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Current ratio back above 1×
Current ratio 0.50× → 1.09×. Calculated
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Owners injected capital
Paid-in equity rose 50.0k NOK → 160.0k NOK (+110.0k NOK). Reported fact
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 1.67m NOK to 1.49m NOK (-10.8% YoY). Calculated
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Operating result weakened
Operating result +810.6k NOK → +612.4k NOK (op. margin 48.4% → 41.0%). Calculated
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Net result weakened
Net result +406.6k NOK → +316.1k NOK (net margin 24.3% → 21.2%). Calculated
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Equity eroded
Book equity 178.9k NOK → 151.0k NOK (equity ratio 10.0% → 13.1%). Calculated
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↓
Payroll up without matching revenue
Salary cost 3.48m NOK → 3.69m NOK (208% → 247% of revenue). Calculated